Document Content

DECISION No

DECISION No. 105/1999/QD-BTC OF AUGUST 30, 1999 PROMULGATING THE SECURITIES TRADING CENTER ACCOUNTING REGIME

THE MINISTER OF FINANCE

Pursuant to the Accounting and Statistics Ordinance promulgated by Order No. 06-LCT/HDNN of May 20, 1988 of the State Council (now the State President) and the Charter of the State Accounting Organization as well as the Charter on State Enterprises� Chief Accountants, respectively issued together with Decree No.25-HDBT and Decree No.26-HDBT of March 18, 1989 of the Council of Ministers (now the Government);

Pursuant to the Government�s Decree No.15/CP of March 2, 1993 on the tasks, powers and State management responsibilities of the ministries and ministerial-level agencies;

Pursuant to the Government�s Decree No.187/CP of October 28, 1994 on the tasks, powers and organizational apparatus of the Ministry of Finance;

Pursuant to the Prime Minister�s Decision No. 127/1998/QD-TTg of July 11, 1998 on the establishment of Securities Trading Centers;

After consulting the State Securities Commission;

At the proposal of the director of the Accounting Regime Department,

DECIDES:

Article 1.- To promulgate together with this Decision the Securities Trading Center Accounting Regime, including:

- The general provisions;

- The accounting vouchers system and explanation of accounting voucher forms;

- The accounting accounts system and explanation of the contents, structures and recording methods of accounting accounts;

- The accounting books system and explanation of accounting book forms;

- The financial reports system and guiding ways of report making.

Article 2.- The Securities Trading Center Accounting Regime shall apply to all securities trading centers.

Article 3.- This Decision takes effect 15 days after its signing.

Article 4.- The chairman of the State Securities Commission shall have to direct the securities trading centers to strictly implement the regulations in this accounting regime.

Article 5.- The director of the Accounting Regime Department, the director of the Finance Ministry�s Office, and the director of the Department for Finance of Banks and Credit Institutions shall have to implement this Decision.

For the Finance Minister

Vice Minister

PHAM VAN TRONG

SECURITIES TRADING CENTER ACCOUNTING REGIME

(Issued together with the Finance Ministry�s Decision No. 105/1999/QD-BTC of August 30, 1999)

Part One

GENERAL PROVISIONS

Chapter I

GENERAL PROVISIONS

Article 1.- The Securities Trading Center Accounting Regime shall apply to all securities trading centers of the State Securities Commission. All securities trading centers shall have to strictly abide by the State�s legal provisions on accounting and statistics as well as the provisions of this Accounting Regime.

Article 2.- The Securities Trading Center Accounting Regime means organizing a data system of economic and financial information in order to manage and control the fund sources, the use and settlement of funds, the management and use of various kinds of materials and property; the implementation of revenue and budget estimates and the implementation of the State�s expenditure criteria and norms at the securities trading centers; the collection and use of charges and fees; the supply of general information on assets, debts and funding sources; the securities trading activities, the security clearing and custody activities at the securities trading centers.

Article 3.- The accountants of securities trading centers shall have the tasks to:

1. Gather, reflect, process and synthesize information on: The sources of allocated and/or aid funds and the use thereof; the collection and use of charges and fees at the securities trading centers; the use of assets, the debt situation, the situation on securities trading, clearing and custody activities at the securities trading centers.

2. Inspect and supervise the observance of the revenue and expenditure estimates; the attainment of economic and financial norms as well as criteria and quotas set by the State; inspect the management and use of various kinds of materials and assets, the observance of disciplines in budget collection and remittance, the observance of settlement discipline and regimes as well as policies of the State.

3. Make and submit in time the financial reports to the superior managing bodies and the financial bodies according to regulations. Supply necessary information and documents in service of the elaboration of estimates, the elaboration of expenditure norms for securities trading and custody activities. Analyze and assess the use efficiency of various sources of funding, capital and fund at the securities trading centers.

Article 4.- The accountants shall apply the "double entry" book-keeping.

Article 5.- The language, currency units and measuring units used in accounting:

1. The language used in the accounting shall be Vietnamese.

2. The currency unit used in accounting recording shall be Vietnam dong. The currency units other than Vietnam dong must be recorded in original currency and converted into Vietnam dong at the inter-bank average trading rates announced by the State Bank of Vietnam at the time the operation occurs for recording in the accounting books, and at the same time each type of original currency must be monitored in detail on the accounts outside the accounting balance sheets.

3. The measuring units (kinds and time) to be applied in the accounting shall be the official measuring units of the Vietnamese State, such as "cai", "chiec" (piece), kg, ton, m, liter, m2, m3� Where necessary, the unofficial auxiliary measuring units may be used to check, compare or serve the detailed accounting.

4. Accounting of custody securities according to their pars.

Article 6.- The accounting voucher and book recording must be made with good and non-fading ink; the data and writings must be clear, continuous and systematic. Interjacent writing and overlapped writing shall not be allowed. Line skipping shall not be permitted; if a line is left unwritten, it must be crossed out with pen. No abbreviation is permitted. The account holders and chief accountants (or persons in charge of the accounting) must absolutely not sign on blank cheques or vouchers. It is forbidden to make erasure or to use chemicals to make corrections. When corrections are required, the correcting methods prescribed by the State accounting regime shall be used.

Article 7.- The accounting year shall be calculated according to the calendar year, lasting from January 1st to the end of December 31.

The accounting periods according to the accounting year shall be:

- The month counted from the first day to the end of the last day of the month.

- The quarter counted from the first day of the first month of the quarter to the end of the last day of the quarter.

Article 8.- The requirements of accounting work at securities trading centers.

- To reflect promptly, fully, accurately and comprehensively all items of funding, funds, assets and all economic and financial activities at the securities trading centers.

- The reflected accounting norms must be consistent with the estimates in terms of contents and calculating methods.

- The data in the financial reports must be clear and easy to understand, ensuring that the managerial officials can acquire necessary economic and financial information on the situation of activities of the securities trading centers.

- The accounting work must be organized in a simple, light, thrifty and efficient manner.

Article 9.- The contents of the accounting work of the securities trading centers shall include:

Accounting of capital in cash:

To reflect the existing amounts and changes in different kinds of cash capital of the units, including cash, foreign currencies and valuable certificates in the funds of the securities trading centers or deposited in banks, State Treasuries.

Accounting of supplies, assets:

- To reflect the existing quantities and values as well as the fluctuation supplies and assets at the securities trading centers.

- To reflect the existing quantities, cost prices and depreciation values of the existing fixed assets and the fluctuation thereof, the investment in capital construction and fixed asset repair at the securities trading centers.

Accounting of payment:

- To reflect the debt amounts to be recovered and the situation on recoverable debt payment by subjects inside and outside the securities trading centers.

- To reflect the amounts of payable debts, amounts of remittance deducted according to wages, amounts payable to officials and employees, amounts payable to the budget and the payment of amounts to be paid, to be remitted.

- To reflect the situation of clearing of the securities trading activities.

- To reflect the management and settlement of payment support funds.

- To reflect the situation on payment of dividends, bond principals and interests for others.

Accounting of securities custody activities:

To reflect the situation on securities trading and custody activities; the situation on custody securities transfer among custody members.

Accounting of sources of funding, capital, fund:

To reflect the existing amounts and fluctuation of the sources of operation funds, capital construction funds, project execution funds, fixed asset formulation funds, other funds and various sources of capital and funds of the securities trading centers.

Accounting of revenues:

To reflect fully and promptly the amounts of collected charges and fees and other revenues arising at the units and remit in time the remittable amounts to the budget and the superior levels.

Accounting of expenditures:

- To reflect fully and in time expenses for securities trading activities, for the implementation of programs, projects, subjects, expenses for capital construction according to the approved estimates and the settlement of such expenditures.

- To reflect the situation on spending and use of funds at the securities trading centers:

Making financial reports and analyzing the final settlement:

- To fully and promptly make and submit on time all financial reports of the securities trading centers to State management bodies;

- To periodically analyze the financial reports and the final settlement reports and propose measures to enhance the management of financial activities of the securities trading centers.

Article 10.- Asset inventory

Asset inventory is a method of determining on the spot the actual quantity of assets, supplies, fund cash and debts of the securities trading centers at a certain point of time.

At the end of the accounting periods (quarters, years), before closing the accounting books, the securities trading centers shall have to inventory:

- Assets, supplies, goods and fund cash in order to accurately determine the quantities of supplies, assets, fund cash�available at the time of inventory, to compare and certify existing debts in order to ensure the consistency between data on the accounting books and the actual figures;

- The custody securities.

Besides, the securities trading centers shall have to conduct extraordinary inventory when necessary (for case of hand-over, merger, dissolution,�).

Article 11.- Accounting inspection and internal audit

1. Accounting inspection:

The accounting inspection aims to ensure that the legal provisions on finance and accounting shall be strictly observed and the accounting data shall be accurate, honest and objective.

The securities trading centers shall be subject to accounting inspection by the superior accounting units and financial bodies.

Directors and chief accountants (or persons in charge of the accounting) of the securities trading centers shall have to obey the inspection orders of the superior managing agencies and the financial bodies, to supply fully necessary data and documents in order to facilitate the accounting inspection.

2. Internal audit:

Internal audit is a measure of inspecting, evaluating and certifying economic and financial information in order to raise and ensure the reliability of accounting information and ensure the effect of the internal audit system as well as the efficiency of economic decisions.

The auditing contents include the examination, assessment and certification of accounting and financial information, the receipt and use of various funding sources, the implementation of State budget revenues, expenditures and remittance, the observance of financial and accounting regimes and regulations.

Article 12.- Preservation and archiving of accounting documents

The accounting documents include the accounting vouchers, accounting books, financial reports and other documents related to accounting.

Upon the end of an accounting year and the completion of the accounting work, all accounting documents, including documents printed out by computers, must be arranged, classified, bound into volumes, enumerated, tied up and listed for keeping at the accounting sections for around one year; later, they will be transferred to the archival sections of the units.

The accounting document-archiving and preserving duration shall comply with the State�s regime on preservation of accounting dossiers and documents.

In cases where the accounting book recording is computerized, at the end of each accounting period and after completing the closure of accounting books, the entire system of general accounting books and detailed accounting books must be printed out and all legal procedures therefor must be completed like for the hand-written accounting books in service of the inspection and supervision by State bodies, then they shall be archived together with other accounting documents.

Article 13.- The securities trading centers must organize the accounting apparatus which is composed of bureaus (departments) and other sections performing the accounting contents prescribed in Article 9.

The securities trading centers shall have to appoint persons who are professionally qualified and have been trained in accounting at basic courses to undertake the accounting. The accountants must be guaranteed with professional independence in performing their tasks.

Article 14.- The accountants must not concurrently undertake the position of storekeepers, cashiers and/or other posts in charge of material matters.

The directors and chief accountants (or persons in charge of the accounting) of the securities trading centers must not arrange members of their families (fathers, mothers, wives or husbands, siblings) to work as financial staff, accountants, storekeepers or cashiers at their respective units. Their family members are absolutely forbidden to join in handling arising operations in the units in the relationship between the approver, the controller and the executor.

When changing accountants in the accounting apparatus, the hand-over between the former accountants and the new ones must be conducted. The new accountants shall be responsible for their work after the date of hand-over. The former accountants shall be answerable for their work during their tenure.

When a securities trading center is established, following the decision on appointment of the center director, the chief accountant or the person in charge of accounting must be appointed immediately and an appropriate accounting apparatus must be organized in order to carry out the procedures for opening transaction accounts at banks and to record as well as reflect the professional operations of the securities trading center.

When a securities trading center is merged, dissolved or split up, its director, chief accountant (or person in charge of accounting) must complete the hand-over, settlement and final settlement in order to report them to the superior managing body or new unit(s).

Article 15.- Officials and employees of the securities trading centers, who are involved in the accounting work, shall have to strictly abide by the financial and accounting principles, regimes and procedures, to promptly and fully supply vouchers and documents necessary for the accounting work and to take responsibility for the accuracy, truthfulness, legality and regularity of vouchers and documents already implemented.

Article 16.- The accounting apparatus of a securities trading center is headed by the chief accountant (or person in charge of the accounting), functioning to assist the center director in directing and organizing the implementation of the entire financial, accounting and economic information work in the unit, to inspect and supervise the observance of financial and accounting regimes and policies, the achievement of the State�s standards and norms and the observance of the financial and accounting disciplines at the securities trading center.

Article 17.- The chief accountant or the person in charge of the accounting is subject to the personal direction and leadership of the director of the securities trading center, and at the same time to the professionally financial and accounting direction and inspection by the superior financial management body (the State Securities Commission).

Article 18.- The appointment, dismissal, transfer or discipline of the chief accountant (or person in charge of the accounting) shall be decided by the authority competent to make the appointment, based on the proposal of the director of the securities trading center after consulting with the immediate higher body and the financial body of the same level (if any).

When changing the chief accountant (or person in charge of the accounting), the director of the securities trading center shall have to organize the hand-over between the former chief accountant and the new chief accountant and make the record thereon. The record on the hand-over and receipt of assets, financial and accounting documents and the accounting work shall comply with the regulations on hand-over procedures and contents.

Article 19.- Person to be appointed to the post of chief accountant or person in charge of the accounting must satisfy the following criteria:

1. Having good virtues, being uncorrupted and honest, having the sense of observing and protecting the economic and financial principles, policies, regimes and laws of the State.

2. Being professionally qualified in finance and accounting (with university degree in finance and accounting) and having experience in the financial and accounting work for 5 years or more, having the capability to organize, direct and run the financial and accounting work in the unit.

3. Having attended fostering courses on chief accountant�s professional operation under the unified program of the Ministry of Finance, and having been granted the certificate thereof.

Absolutely not to appoint persons who have been disciplined for corruption, infringement upon the State property and/or breaches of financial and accounting policies and regimes to the post of chief accountant or assign such persons to take charge of the accounting.

The chief accountant shall personally direct and guide various sections, bureaus and departments in the unit and subordinate units to carry out work falling under the scope of power and responsibility of the chief accountant. All officials and employees as well as all sections in the units and subordinate units shall have to strictly follow the guidance and submit to the inspection by the chief accountant in the financial and accounting work, and at the same time shall supervise the work of the chief accountant.

Article 20.- The chief accountant or person in charge of the accounting shall have the following tasks:

1. To organize the accounting work and the accounting apparatus in a scientific, light and non-cumbersome way suitable to the operation characteristics and requirements as well as the management skills of the unit.

2. To organize recording and reflecting accurately, promptly and fully the situation on the property, supplies, funding and fund cash at the securities trading center. To reflect fully all revenues and expenditures arising at the securities trading center and to make full and timely remittance of all remittable amounts to the budget and the superior levels.

3. To organize periodical and extraordinary inventory of assets of the securities trading center as prescribed. To handle and reflect in time the inventory results into the accounting books.

4. To fully make financial reports and submit them on time according to the regulations.

5. To conduct regular internal accounting inspection within the securities trading center. To inspect and supervise the management and use of supplies, assets and fund capitals at the security trading center. To inspect the making and implementation of revenue and expenditure estimates, the observance of financial norms, criteria and regimes at the securities trading center.

6. To organize the preservation and archiving of accounting documents as well as the use of archived accounting documents as prescribed.

7. To disseminate and guide in time the State�s financial and accounting policies, regimes and regulations to the officials and employees at the securities trading center and its affiliates.

8. To organize the assessment of the situation on financial management, the efficient use of funds and on the observance of the financial policies by the securities trading center.

9. To organize training and fostering courses for accountants at the securities trading center in order to raise their professional skills.

Article 21.- The chief accountant or person in charge of the accounting shall have the following powers:

1. To personally assign tasks to and direct accountants, storekeepers and cashiers of the securities trading center. To join the director of the securities trading center in recruiting, transferring for, wage-raising, commending and disciplining accountants, statisticians, storekeepers and cashiers.

2. To request other sections in the securities trading center to fully and promptly supply data and documents related to the accounting work and accounting inspection, asset inventory.

3. To sign and ratify accounting vouchers, financial reports and contracts for purchase and/or sale of assets, supplies� between the securities trading center and other units as well as individuals. All vouchers on cash collection and spending, on asset delivery, receipt and transfer must be signed by the chief accountant and the unit head as prescribed by the accounting voucher regime. Vouchers, financial reports and economic contracts, if without the signature of the chief accountant, shall all be considered legally invalid.

4. To refuse signing and approving vouchers, economic contracts, final settlement reports and other documents if deeming that they are contrary to the current regimes and regulations.

In cases where the director of the securities trading center requests or orders him/her orally or in writing to do a thing banned by law (such as counterfeiting or correcting vouchers and/or accounting books or destroying vouchers, falsely reflecting the nature and/or contents of economic operations�), he/she is entitled to refuse to do it and report it back to the center director in writing.

Chief accountants (persons in charge of the accounting) who, on the order of the directors, carry out economic operations banned by law shall have to bear responsibility like the person who gave such order.

Chapter II

ACCOUNTING VOUCHERS

Article 22.- Accounting vouchers are written proofs of economic and financial operations which have arisen and been actually completed. All data inscribed in the accounting books must be evidenced by lawful and regular accounting vouchers.

Article 23.- All economic and financial operations arising in the securities trading, clearing and custody activities, in the reception and use of State budget fund sources, revenues, expenditures, deductions for establishment and use of funds of the securities trading centers must be recorded in vouchers. The vouchers must be made in strict accordance with the regulations in this regime and fully, promptly and accurately inscribed in conformity with the actually arising economic and financial operations.

Article 24.- The content of the accounting voucher system includes 6 norms:

1. Labor and wages;

2. Goods left in stock:

- Supplies left in stock;

- Custody securities;

3. Currency;

4. Fixed assets;

5. Securities clearing, buying and selling;

6. Goods sale.

The accounting voucher system of particular characteristics shall be stipulated by the State Securities Commission (if any supplement) after getting the consent of the Ministry of Finance.

Article 25.- The accounting voucher must fully contain the following details:

1. The appellation of voucher (collection order, payment order�);

2. Day, month, year of making the voucher;

3. The code of the voucher;

4. Name and address of the unit or individual that has made the voucher.

5. Name and address of the unit or individual that has received the voucher;

6. The content of arising economic operation.

7. Norms regarding the quantity and value;

8. Signatures of the voucher maker and the person responsible for the accuracy of the operations. Vouchers reflecting the economic ties between legal persons must be signed by the controller and the approvcr (director of the securities trading center) and affixed with the seal of the securities trading center.

For vouchers related to the provision of services (if any), the Ministry of Finance�s voucher and receipt regime shall apply.

Article 26.- The accounting vouchers must be made fully with continuous serial numbers as prescribed. Vouchers must be inscribed clearly, truthfully and fully with details, and with blank places being crossed out. Erasing and correction on vouchers are not allowed. If a voucher is wrongly inscribed, it must be disregarded and not taken from the counterfoil.

Article 27.- To strictly forbid:

- The head and chief accountant (or person in charge of the accounting) of the securities trading center to sign on blank vouchers and set form;

- The account holders and chief accountant to sign blank cheques;

- To distort the economic contents of vouchers;

- To make erasing and correction on accounting vouchers;

- To disregard vouchers contrarily to the regulations or when the archival duration has not yet expired.

- To fake accounting vouchers.

- To use irregular and unlawful vouchers.

Article 28.- The accounting voucher rotation order:

The order and time for rotation of accounting vouchers shall be determined by the chief accountant (or person in charge of the accounting) of the securities trading center. Accounting vouchers made by the securities trading center or introduced from the outside must be concentrated at the accounting section and sections performing the contents of the accounting work of the securities trading center. These sections shall have to examine the accounting vouchers which shall be used for accounting book recording only after they are checked and certified as being accurate.

The order for making, using and managing accounting vouchers shall include the following steps:

1. Making voucher on accounting which has already arisen;

2. Checking the accounting voucher;

3. Inscribing the accounting book;

4. Archiving and preserving accounting vouchers.

Article 29.- Accounting vouchers examination, including:

1. Examination of the transparency, truthfulness and comprehensiveness of norms reflected on vouchers;

2. Examination of the legality and regularity of the arising economic and financial operations;

3. Examination of the accuracy of data and information on accounting vouchers;

4. Examination of the observance of the internal management regulations by the planner, controller and approver of each kind of economic operation.

Any act of violating the State�s economic, financial and/or accounting policies, regimes or regulations, if detected through the examination of accounting vouchers, must be immediately reported to the chief accountant (or person in charge of the accounting) or the director of the securities trading center for timely handling according to the current law provisions, and any request (to pay out, settle, exwarehouse...) must be rejected.

For accounting vouchers made in contravention of the procedures and contents and with unclear figures, the person responsible for the examination or book-recording shall have to return them or notify it to the bodies where such vouchers were made for handling, supplementing the procedures and making adjustments, before using them as basis for book recording.

Article 30.- Archiving accounting vouchers:

The used accounting vouchers must be arranged, classified, preserved and archived according to the regulations of the State�s regimes on accounting vouchers and documents archiving.

All cases of losing accounting vouchers must be reported to the chief accountant (person in charge of the accounting) or the director of the securities trading center in order to take measures for timely handling. Particularly, cases of losing sale invoices, receipts or blank cheques must be reported to the local tax authorities or police office regarding the quantity of lost invoices, receipts or blank cheques and the loss circumstances in order to take measures for verification and handling according to law. Measures should be taken as soon as possible in order to invalidate the lost vouchers.

Article 31.- Regulations on the use and management of set forms of accounting vouchers:

- In the course of implementation, the securities trading centers must not amend the prescribed forms of accounting vouchers. In cases where they wish to amend and supplement the prescribed forms, making them suitable to the particular operations of the units, they must obtain the permission of the State Securities Commission after getting the written consent of the Ministry of Finance.

- In cases where the securities trading centers use accounting vouchers promulgated together with other legal documents, they must comply with such prescribed forms.

- Pre-printed forms of vouchers must be carefully preserved, not letting them to be ruined or decayed.

Article 32.- Printing and distribution of accounting voucher forms:

1. When printing accounting voucher forms, the securities trading centers shall have to comply with the designing contents prescribed in this regime.

The form of accounting vouchers for service charges, budget collection and remittance shall be distributed by the Ministry of Finance.

2. The printing houses must not alter the contents of prescribed forms without permission and must not print accounting voucher forms contrary to the provisions in this regime.

Article 33.- Handling of violations:

1. All acts of breaching the provisions of this regime shall, depending on the nature and seriousness of the violations, be handled in strict accordance with the Ordinance on Accounting and Statistics, the Decree on Sanctions against Administrative Violations in the field of Accounting, and other legal documents of the State.

2. Any acts of buying, selling, lending or counterfeiting vouchers for the purposes of corruption or illegal business shall, depending on the nature and seriousness of the violations, be sanctioned according to the current regulations.

Article 34.- List of accounting vouchers (see Part two).

Chapter III

SYSTEM OF ACCOUNTING ACCOUNTS

Article 35.- The accounting accounts mean the accounting method used to classify and systematize the arising economic-financial operations according to the economic contents reflected by the accounting accounts, and to control regularly, continuously and systematically the situation on evolution of assets, supplies and capital money, the situation on security trading, clearing and custody and the situation on the collection and use of charges and fees at the securities trading centers.

Article 36.- An accounting account opened for each accounting object has its own economic contents. All the accounting accounts used in the accounting shall formulate a system of accounting accounts. The Ministry of Finance shall prescribe the unified accounting account system applicable to the securities trading centers. The accounting account system is an important component of the accounting, which includes the unified regulations on types of accounts, quantity of accounts, the code, the reflecting contents and method of accounting recording of each account.

Article 37.- The accounting account system of the securities trading centers is established on the principle of basing on the operation nature, contents and characteristics of the securities trading centers, on the basis of the application of the principle of classification and codification of Vietnam�s accounting account system, aimed to:

- Fully meet the requirements of managing and controlling the spending of the State budget fund, capital and funds according to each type of operation of the centers.

- Fully reflect the economic and financial operations arising at the centers, suitable to the organization and operation in the field of securities trading activities.

- Satisfy the requirement of processing information through computing facilities and fully satisfy the demand for economic and financial information of the functional State management bodies, the securities trading centers and parties concerned.

Article 38.- The accounting account system of the securities trading center shall include the accounts in the Accounting Balance Sheet (inside the sheet) and the accounts outside the Accounting Balance Sheet (outside the sheet).

The accounts inside the sheet shall comply with the method of "double entry" book-recording.

The accounts outside the sheet shall comply with the method of "single entry" book-recording, reflecting the assets which are currently available at the center but not under its ownership (assets hired from the outside, kept for others, kept as securities custody,...), or economic and financial norms which have already been reflected in accounts inside the Accounting Balance Sheet but should be monitored in service of the management requirements such as : the value of tools, durable tools, assorted foreign currencies, allocated funding quotas...

Article 39.- The system of accounting accounts of the securities trading centers is determined with accounting accounts of grade 1, grade 2 and grade 3, suitable to the operation nature, contents and characteristics as well as the management requirements of the centers.

The centers must not open grade 1 accounts outside the prescribed system of accounting accounts without permission. The opening of additional grade 1 accounts must be approved in writing by the Ministry of Finance.

Article 40.- The system of accounting accounts (see Part three).

Chapter IV

ACCOUNTING BOOKS

Article 41.- The securities trading centers must open, record, manage, preserve and archive accounting books according to the provisions of this regime on accounting books.

Article 42.- The accounting books include two types:

- Books for general accounting, called the general accounting book.

- Books for detailed accounting, called the detailed accounting book.

The general accounting books include ledger, journals and other general accounting books.

The detailed accounting books include books and cards for detailed accounting.

The opening and recording of ledgers and journals must comply with the regulations on book forms, reflecting contents and book-recording methods. Besides having to comply with the compulsory provisions guiding the detailed accounting books and cards in this accounting regime, the securities trading centers may supplement book forms suitable to their respective conditions.

Article 43.- The journals are used for recording the economic and financial operations arising in each accounting period and an accounting year according to chronicle order and reciprocal relationship of accounts of such operations. The accounting data on the journals reflect the total amounts arising on the side Debit and the side Credit of all accounting accounts used at the units.

The journals must fully reflect the following details:

1. The date of book recording;

2. The number sign and date of making accounting vouchers used as basis for book-recording;

3. Summary of the economic content of the arising operation;

4. The amount of money of the arising economic operation.

Article 44.- The ledger is used for recording arising economic and financial operations according to economic contents (according to accounting accounts). The data on the ledger reflect in a general manner the situation on evolution and availability of assorted assets, amounts of debts to be recovered and to be paid; the situation on the actual receipt and use of various sources of operation funding; the situation on the collection and use of proceeds from securities trading and custody activities at the securities trading centers.

The recording according to the chronicle order of occurrence of economic operations may be combined in the ledger.

The ledger shall have to fully reflect the following details:

1. The date of book-recording;

2. The number sign and date of vouchers used as basis for book-recording;

3. The major contents of the arising economic operations;

4. The amount of money of the arising economic operations.

Article 45.- The detailed accounting books and cards are used for recording in detail the accounting objects according to the management requirements. The data on detailed accounting books provide information in service of the management of each type of assets, sources of capital, funds, recoverable debts, payable debts, proceeds from securities trading and custody activities, which have not yet been reflected in detail on the journals and the ledger, in service of the calculation and elaboration of norms in the final settlement reports.

The quantity and structure of detailed accounting books are not compulsory. The securities trading centers shall have to base themselves on the provisions of the Securities Trading Center Accounting Regime and their respective management requirements to open necessary and appropriate detailed accounting books.

Management and use of accounting books

Article 46.- The securities trading centers may open and maintain only one official accounting book system.

Article 47.- The accounting book recording must necessarily be based on accounting vouchers. Every datum recorded on the accounting books must be evidenced by the lawful, regular and reasonable accounting vouchers. The accounting vouchers used for accounting book recording are specified in Part I of the accounting regime applicable to the securities trading centers and in other relevant regulations.

Article 48.- The accounting books must be strictly managed, with responsibility clearly assigned to individuals keeping and recording books. Any staff members who are assigned any accounting books must bear responsibility for every thing recorded in the books and keep the books throughout the period of book recording and management.

Upon any change of book-recording and-keeping personnel, the chief accountant (or person in charge of the accounting) must organize the hand-over of the accounting book recording and management responsibility between the former accountant and the new accountant. The former accountant shall be accountable for all things recorded in the books during his/her period of book-recording and-keeping. The new accountant shall take the responsibility from the date he/she takes the hand-over. The hand-over record must be signed for certification by the chief accountant (or person in charge of the accounting).

Article 49.- The accounting books must be made of good-quality paper to ensure the clear and clean inscribing. The accounting book recording must be effected with good-quality and non-fading ink. Rubbing out and the use of chemicals to make corrections are prohibited. The correction of data in accounting books must strictly comply with the methods prescribed in this regime.

Article 50.- The accounting book form applicable to the securities trading centers is the form of the general journal accounting book.

The securities trading centers must necessarily comply with all basic principles prescribed for the form of general journal accounting book in terms of: the types of book, the structures of books, the relationship and combination between types of book, the order and techniques of recording of accounting books of different types.

The basic feature of the form of general journal accounting book is: All arising economic and financial operations must be recorded in the general journal according to the chronicle order of their happenings and the economic contents of such operations. Later, data on the diary book shall be taken out for recording in the ledger according to each arising operation, or according to synthesized data.

The form of general journal accounting shall involve the following major types of book:

- The general journal;

- The ledger;

- The detailed accounting books and cards.

The order of accounting book-recording in the form of general journal

Daily, based on the vouchers to be used as basis for book-recording, first, the arising operation shall be recorded in the general journal, the relevant special journals and necessary detailed accounting books. Later, based on the data already recorded in the general journals and special journals to record them in the ledger according to appropriate accounts.

At the end of each month, quarter or year, making addition of data on the ledger, then making the Sheet of Balance for the arising figures.

After checking and comparing the compatibility between the data recorded on the ledger and those on the Sheet of Detailed Summary (made from the detailed accounting books), the data on the ledger shall be used for making the financial statements.

In principle, the total arising amount on the Debit and the total amount on the Credit on the Balance of arising figures must be equal to the total arising amount on Debit and the total arising amount on the Credit on the general journal of the same period.

Opening and recording accounting books

Article 51.- The accounting book opening and recording must ensure the full, timely, accurate, truthful, continuous and systematic reflection of the change and the availability of assorted assets, debts to be recovered and to be paid; the receipt and use of various sources of operation fund; the revenues and the use thereof in the securities trading and custody activities; the situation on securities clearing and custody; the situation on deduction for establishment and the use of assorted funds;... with a view to supplying economic and financial information for the making of financial statements of the securities trading centers.

It is strictly forbidden to put outside the accounting books any assets, supplies, securities, funds, debts, operation revenues and the use of revenues of the securities trading centers in any form.

Article 52.- The accounting books must be opened at the beginning of the accounting year or immediately after getting the establishment decision or commencing the operation. The directors and chief accountants (or persons in charge of the accounting) of the securities trading centers shall have to sign the approval or such accounting book before use.

Article 53.- The accounting books must comply with the forms prescribed in this regime; books may be bound in volumes or let in loose sheets. Book sheets, after being used, must be bound in volumes for archival purposes. Before the accounting books are used, the following procedures must be completed:

For accounting books in volume:

The first page of the book must be clearly inscribed with the name of the unit, the name of the book, the date of book opening, the accounting year, the full name of the book keeper, the date of ending the book recording or the date of transfer to other person.

Pages must be numbered and the stamp of the securities trading center must be sealed in between two pages (called overlapping stamp).

The director of the securities trading center must sign for certification on the first and the last pages of the accounting book.

For books in loose sheets:

The top of the each loose sheet book must be clearly inscribed with the name of the unit, the serial number of each sheet, the name of the book, the date of use, the full name of the book keeper and recorder.

The loose sheets, before being used, must be signed for certification by the director of the securities trading center, be stamped and registered for use in the registration book.

The loose sheet books must be arranged according to a certain order so as to ensure the safety and easy finding.

Article 54.- The data recorded in the accounting books must be clear, continuous and systematic. Line skipping is not permitted. Interjacent or overlapping writing is not permitted. At the end of each page, the addition of figures in each page must be made and the total must be carried forward to the next page on its top.

Article 55.- At the end of an accounting period or year (after completing the book-recording and the making of the financial statements), the securities trading centers must print the accounting books, bind them in volumes, seal them with the overlapping stamps and get the signatures of the persons who make the books and the persons who are in charge of the legal affairs of the securities trading centers affixed to all the accounting books to be used in the fiscal year.

Making corrections and/or corrigenda on accounting books

Article 56.- All errors or mistakes in the course of accounting book recording ( if any) must be corrected or affixed with corrigenda by one of the three following methods:

- Making corrigenda (also called method of rubbing out);

- Recording negative figures (also called method of red recording);

- Additional recording.

Article 57.- When using the method of making corrigenda to correct errors on accounting books, a red-ink line is used to cross out the error so as to be able to see the contents of the crossed-out erroneous inscriptions. Above the cross-out, the correct figures shall be inscribed in common ink. If the error is related to only a single figure, all the figures in the error must be crossed out and replaced by the correct figures. The corrigenda must be certified with the signature of the chief accountant.

This method shall be used for the following errors:

- Errors made in explanation, not relating to the reciprocal relationships of accounts;

- Errors which do not affect the total amount of money.

Article 58.- When using the method of recording the negative figures to correct the errors, first of all, the erroneous entries must be re-written in red ink (inscribing the negative figures) to cancel such entries, then write the correct entries in replacement.

This method shall apply to the following errors:

- Errors in the reciprocal relationship between accounts due to wrong determination of accounts, which have been recorded in accounting books and can not be corrected by method of corrigenda;

- Errors detected after the accounting report was made and already sent;

- Error in which the money amount has been inscribed more than once in the account or the erroneously inscribed figures are bigger than the correctly inscribed figures.

When using the method of recording the negative figures to correct the errors, the "chung tu ghi so dinh chinh" (corrigenda recording voucher) must be made and signed for certification by the chief accountant (or person in charge of the accounting).

Article 59.- The method of additional recording shall apply to cases where the reciprocal relationship between accounts is correctly entered but the money amount inscribed is smaller than the actual money amount arising in the economic and financial operations or the money amounts inscribed on vouchers are not fully added up. Where the correction is made according to this method, the "corrigenda entry voucher" must also be made and signed for certification by the chief accountant (or person in charge of the accounting).

Accountants shall additionally inscribe the different amount to fit the correct amount.

Article 60.- Where the accounting book recording is computerized, the accountants may correct the errors by one of the three above-mentioned methods, depending on each specific case, but have to comply with the following regulations:

+ If the errors are detected before the books are printed, the correction thereof may be made directly in the computerized book;

+ If the errors are detected after the books are printed, signed and stamped, the correction thereof shall be made on the printed books by one of the three above-mentioned methods and, at the same time, correction of the errors on the computers shall be made and the new book sheet shall be re-printed. The new book sheet must be kept together with the sheet where the errors were made to ensure the conveniene for the examination and control.

Article 61.- When the annual final settlement report has been ratified or when the inspection, examination and/or audit has ended with official conclusions, if there is a decision to correct data on the financial report related to the data already recorded in the accounting book, the unit shall have to correct the accounting books and balances of relevant accounts. Depending on each specific case, the correction of data may be made directly on the accounting book of the reporting year or the accounting book of the current year (by the time the erroneous operation is detected). In case of adjustment on the current year�s accounting books, the footnote must be simultaneoursly inscribed in the last page (below the addition line) of the accounting book of the previous year in order to facilitate the comparision and inspection.

Article 62.- Assorted accounting books (whether temporarily kept at the accounting section or at the common archive of the securities trading center) must be arranged tidily and in good order and well preserved in cabinets or rooms, which are carefully locked to avoid loss and mislaying.

The archive must be furnished with all necessary devices to ensure the safe keeping of accounting books.

While the accounting books are temporarily kept at the accounting section, the chief accountant and the director of the securities trading center shall have to organize the preservation thereof. Where they are kept in the archive, the chief accountant and the director of the securities trading center shall have to bear the responsibility.

Article 63.- The list of book forms and the order of inscribing the general journal accounting book shall be reflected on the chart below (see Part four).

Chapter V

FINANCIAL REPORTS

Article 64.- Financial report is a method of synthesizing data from accounting books according to the economic and financial norms in order to reflect the situation of receiving funds, using funds, the situation of implementing securities trading, clearing and custody, the results of the operation of the securities trading centers in a given period of time into the system of uniformly prescribed forms.

The financial report system aims to

- Synthesize and present in a general and comprehensive manner the situation on the assets, funding sources, the use of funds, the situation and results of operation of the securities trading centers in each accounting period and each accounting year.

- Supply economic-financial information and results of operations of the securities trading centers for the inspection and control of revenues, expenditures and management of the State property. To synthesize, analysize and evaluate the operation of the securities trading centers, setting the guidelines for the proper and healthy development of the stock market.

Article 65.- The securities trading centers shall have to make and submit the financial reports to the superior managing body and the financial agency as prescribed.

The directors of the securities trading centers shall have to consider and scrutinize data in the statements before signing, stamping and sending the reports to various agencies.

Article 66.- The time limit and place for receipt of financial reports are stipulated as follows:

- The quarterly financial reports must be sent to the receiving bodies within 20 days after the last day of the quarter.

- The annual financial reports must be sent to the receiving bodies within 90 days after the last day of the year.

Article 67.- The list of financial reports (see Part five).

Part Two

THE ACCOUNTING VOUCHER SYSTEM AND EXPLANATION OF THE ACCOUNTING VOUCHER FORMS

THE LIST OF ACCOUNTING VOUCHERS APPLICABLE TO THE SECURITIES

TRADING CENTERS

(Issued together with Decision No.105/1999/QD-BTC of August 30, 1999

of the Ministry of Finance)

Ordinal numbers

Names of vouchers

Codes of vouchers

Issued together with

Securities Trading Center Accounting Regime

Other documents

I. LABOR AND WAGES

1 Work-day marking table 01-LDTL x

2 Overtime work notices 02-LDTL x

3 Wage payment table 03-LDTL x

4 Certificate of sick leaves for enjoying social insurance x

5 List of sick and maternity leaves with allowances x

6 Reward payment table 04-LDTL x

7 Work completion certificate 05-LDTL x

8 Travel papers 06-LDTL x

9 Car mobilization order 07-LDTL x

10 Labor accident investigation record 08-LDTL x

II. Goods left in stock

1. Supplies left in stock

11 Goods purchase listing ticket 01-VT x

12 Warehousing ticket 02-VT x

13 Ex-warehousing ticket 03-VT x

14 Supplies checking record 04-VT x

15 Supplies warehouse card 05-VT x

16 Supplies inventory record 06-VT x

2. Custody securities

17 Securities deposit ticket x

18 Custody securities deposit certificate x

19 Securities withdrawal ticket x

20 List of custody securities deposited in the day 01-LK x

21 List of custody securities withdrawn in the day 02-LK x

22 Application for securities pledging account opening x

23 Written request for pledge - pledge release x

24 Securities pledging contract x

25 Securities pledging authorization letter x

26 Via-account securities transfer request x

27 List of pledged securities taken into custody in the day 03-LK x

28 List of pledged securities released in the day 04-LK x

29 List of securities temporarily suspended from transaction

in the day 05-LK x

30 List of securities not temporarily suspended from

transaction in the day 06-LK x

31 List of securities temporarily kept in the day 07-LK x

32 List of securities not temporarily kept in the day 08-LK x

33 Record of certificate securities hand-over and receipt 09-LK x

34 Notice on securities account balance x

35 Record of certificate securities inventory 10-LK x

III. Capital in cash

36 Collection order 01-TT x

37 Payment order 02-TT x

38 Written request for advance payment 03-TT x

39 Advance settlement paper 04-TT x

40 Fund inventory sheet 05a-TT x

41 Fund inventory sheet 05b-TT x

IV. Fixed assets

42 Fixed asset handing and reception record 01-TSCD x

43 Fixed asset card 02-TSCD x

44 Fixed asset liquidation record 03-TSCD x

45 Fixed asset overhaul completion hand over record 04-TSCD x

46 Fixed asset revaluation record 05-TSCD x

V. Securities clearing, purchase and sale

47 Report on securities payment by securities x

48 Report on securities payment by custody member

(sent to custody members) x

49 Cash clearing results report (sent to each custody member) x

VI. Goods sale

50 Securities trading charge calculation index 01-BH x

51 Securities trading charge calculation general index 02-BH x

52 Securities custody charge calculation index 03-BH x

53 Securities custody charge calculation general index 04-BH x

54 Receipt on collection of securities trading charges and fees x

VII. Other vouchers

55 Payment order x

56 Payment accreditation x

57 Collection accreditation x

58 Check remittance declaration x

59 Advice of debit x

60 Advice of credit x

61 Money transfer order of securities trading centers to

designated banks x

62 Notice on funding quotas to be allocated x

63 Funding quota distribution paper x

64 Funding remittance for payment paper x

65 Funding quota withdrawal-cum-cash reception paper x

66 Funding quota withdrawal via account transfer x

67 Final settlement approval notice x

Part Three

ACCOUNTING ACCOUNT SYSTEM AND EXPLANATION OF CONTENTS, STRUCTURES AND METHOD OF RECORDING OF ACCOUNTING ACCOUNTS

THE SYSTEM OF ACCOUNTING ACCOUNTS APPLICABLE TO THE SECURITIES TRADING CENTER

(Issued together with Decision No. 105/1999/QD-BTC of August 30, 1999 of the Ministry of Finance)

Ordinal numbers

Account codes

Account names

Scope

Grade 1

Grade 2

Grade 3

Type 1 - Current assets

1 111 Cash

1111 Vietnamese currency

1112 Foreign currency(ies)

1113 Gold, silver, gemstones

1114 Valuable certificates

2 112 Bank and/or treasury deposit money

1121 Vietnamese currency

1122 Foreign currency(ies)

1123 Gold, silver, gemstones

3 115 Money deposited in payment support fund Details

according to

management

requirements

4 116 Money for dividend or bond payment

for others

5 131 To be collected from members

1311 Charges, fees to be collected

1312 Payment support fund deficit to be collected

1318 Other amounts to be collected from members.

6 138 Other amounts to be collected

1381 Inadequate assets waiting for handling

1388 Other amounts to be collected.

7 141 Advance

8 152 Materials

9 153 Instruments

Type 2 - Fixed assets

10 221 Tangible fixed asset

2111 Land

2112 Houses, architectures

2113 Machinery, equipment

2114 Transport, transmission means

2115 Management means

2118 Other tangible fixed assets

11 213 Intangible fixed assets Details

according to

management requirements

12 214 Fixed assets depreciation

2141 Tangible fixed assets depreciation

2143 Intangible fixed assets depreciation

13 241 Unfinished capital construction

2411 Fixed assets procurement

2412 Capital construction

2413 Fixed asset overhauls

Type 3 - Debts to be paid

14 331 To be paid to sellers

15 332 To be paid to members

3321 To be paid as dividends

3322 To be paid for bond principal and interests.

3328 Other payable amounts.

16 333 Amounts to be remitted to the State

3331 Charges, fees to be remitted

3338 Other amounts to be remitted

17 334 Amounts to be paid to employees

3341 Amounts to be paid to employees

3342 Amounts to be paid to other subjects

18 337 Fundings settled and carried forwards

to subsequent year

3371 Materials, tools in stock

3372 Value of overhauls and completed capital

construction volume.

19 338 Other payable, remittable amounts

3381 Surplus assets awaiting settlement

3382 Trade union funding

3383 Social insurance

3384 Health insurance

3388 Other payable, remittable amounts

20 344 Long-term collaterals and deposits

21 345 Payment support fund Details on

each custody

member

22 351 Securities trading clearing at securities

trading centers

23 352 Securities trading clearing by members Details on

each custody

member

Type 4 - Funding sources

24 412 Asset revaluation differences

25 413 Exchange rate difference

4131 Exchange rate difference arising in the period

4132 Exchange rate difference due to revaluation

and period end.

26 414 Operation development promotion fund

27 421 Revenues not yet distributed

28 431 Reward, welfare funds

4311 Reward fund

4312 Welfare fund

29 441 Funding sources for investment in capital

construction

30 461 Operation founding sources

4611 Preceding year

4612 Current year

31 462 Project funding sources

4621 Project management funding sources

4622 Project execution funding sources

32 466 Funding sources formulating fixed assets

Type 5 - Revenues

33 511 Revenue from operation of securities

trading centers

5111 Revenue from centers� membership fees

5112 Revenue from securities listing fees

5113 Revenue from securities transactions fees

5114 Revenue from securities registration fees

5115 Revenue from securities custody fees

5116 Revenue from information service charges.

34 518 Other revenues. Details as

required by

management

Type 6- Expenditures

35 661 Operation expenditures

6611 Preceding year

6612 Current year

36 662 Project expenditures Details on

each project

6621 Project management expenditure

6622 Project execution expenditure.

Type 0 - Accounts outside sheets

1 001 Outside hiring accounts

2 002 Accounts kept for others

3 004 Bad debts already handled

4 005 Durable instruments, tools being used

5 006 Pledged, mortgaged assets

6 007 Foreign currencies

7 008 Funding quotas

8 011 Already traded securities clearing

9 012 Custody securities, domestic securities members

0121 Securities traded by domestic custody members Details on

each custody

member and

each type

of securities

01211 Traded securities of domestic custody members

01212 Traded securities of customers of domestic

custody members

0122 Securities temporarily suspended from Details on

trading by domestic custody members each custody

member and

each type of securities

01221 Temporarily suspended securities of

the domestic custody members

01222 Temporarily suspended securities of

customers of the domestic custody members

0123 Securities pledged by domestic custody members Details on

each custody

member and

each type of

securities

01231 Pledged securities of domestic custody members

01232 Pledged securities of customers of domestic

custody members

0124 Securities temporarily kept by domestic Details on

custody member each custody

member and

each type of

securities

10 013 Custody securities of foreign custody members

0131 Securities traded by foreign custody members Details on

each custody

member and

each type of

securities

01311 Traded securities of foreign custody members

01312 Traded securities of customers of foreign

custody members

0132 Securities temporarily suspended from Details on

trading by foreign custody members each custody

member and

each type of

securities

01321 Securities temporarily suspended from

trading by foreign custody members

01322 Securities temporarily suspended from

trading by customers of foreign

custody members

0133 Securities mortgaged by foreign custody Details on

members each custody

member and

each type of

securities

01331 Mortgaged securities of foreign custody

members

01332 Mortgaged securities of customers of

foreign custody members

0134 Temporarily kept securities of foreign Details on

custody members each custody

member and

each type of

securities

Part Four

THE ACCOUNTING BOOK SYSTEM AND EXPLANATION OF ACCOUNTING BOOK FORMS

THE LIST OF ACCOUNTING BOOKS APPLICABLE TO THE SECURITIES

TRADING CENTERS

(Issued together with Decision No. 105/1999/QD-BTC of August 30, 1999 of the Ministry of Finance)

Ordinal numbers

Names of books

Codes

Note

1 General journal S01-TT

2 Journal of Account 131 S02-TT

3 Journal of Account 331 S03-TT

4 Ledger S04-TT

5 Cash fund book S05-TT

6 Bank and treasury deposit book S06-TT

7 Cash and foreign currency deposit book S07-TT

8 Warehouse book S08-TT

9 Materials and tools detailed book S09-TT

10 Fixed asset book S10-TT

11 Operation funding sources monitoring book S11-TT

12 Funding quotas monitoring book S12-TT

13 Extra fund reception monitoring book S13-TT

14 Detailed funding source general book S14-TT

15 Capital construction investment capital reception

and use monitoring book S15-TT

16 Detailed revenues book S16-TT

17 Detailed operation expenditures book S17-TT

18 Detailed project expenditures book S18-TT

19 Operation and project expenditure general book S19-TT

20 Traded securities clearing book S20-TT

21 Traded securities book S21-TT

22 Temporarily suspended securities book S22-TT

23 Pledged securities book S23-TT

24 Temporarily held securities book S24-TT

25 Securities trading clearing book S25-TT

26 Detailed accounts book S26-TT

Part Five

THE FINANCIAL REPORT SYSTEM AND GUIDING WAYS OF MAKING REPORTS

THE LIST OF FINANCIAL REPORTS APPLICABLE TO THE SECURITIES TRADING CENTERS

(Issued together with Decision No. 105/1999/QD-BTC of August 30, 1999 of the Ministry of Finance)

Recipients

Ordinal number

Codes

Reports� names

Report making time limit

Ministry of Finance

State Treasury

State Securities Commission

Statistical Agency

1 B01-TTGDCK Accounting sheet Quarterly, x x x x

of balance annual

2 B02-TTGDCK Summary of funding Quarterly, x x x x

situation and settle- annual

ment of used funds

F02-1H Detailed operation Quarterly, x x x

funding proposed annual

for settlement

F02-2H Detailed project Quarterly, x x x

funding proposed for annual

settlement

F02-3H Funding items Quarterly, x x x

comparison table annual

3 B03-TTGDCK Report on results of Quarterly, x x

non-business opera- annual

tions yielding revenues

4 B04-TTGDCK Financial report Annual x x

explanation

CIRCULAR No.117/1999/TT-BTC of September 27, 1999 guiding the financial regime applicable to the collection of agricultural land use tax

The expenses for the collection of agricultural land use tax shall be covered by the central State budget and publicized in the annual State budget draft of the General Department of Tax. The Ministry of Finance shall allocate funding for the collection of agricultural land use tax according to the monthly and quarterly plans to the General Department of Tax like other fundings.- (Summary)